French in $1.1bn APN Outdoor bid

Original article by Bridget Carter, Scott Murdoch
The Australian – Page: 17 & 19 : 21-Jun-18

JCDecaux has made a cash offer of $A6.52 per share for Australian-listed APN Outdoor Group. France-based JCDecaux is a major player in Australia’s street furniture advertising market, and it says APN’s outdoor advertising businesses would complement its local operations. The $A1.1bn takeover bid is likely to affect APN’s own proposal to acquire the Adshel business from rival HT&E. APN was seen as the leading contender to acquire Adshel, although oOh!media is also believed to be in contention.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, JC DECAUX SA, ADSHEL PTY LTD, HT&E LIMITED – ASX HT1, OOH!MEDIA LIMITED – ASX OML, YARRA TRAIL PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, GOLDMAN SACHS AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, CLSA AUSTRALIA PTY LTD

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